The Walt Disney Company stock closed last night at $118.32 a share before reporting their earnings for the third quarter (Q3) of fiscal year 2025 which ended on June 28, 2025. According to the earnings report, revenues increased Revenues increased 2% for Q3 to $23.7 billion from $23.2 billion in Q3 fiscal 2024. Income before income taxes increased 4% for Q3 to $3.2 billion from $3.1 billion in Q3 fiscal 2024. Total segment operating income(1) increased 8% for Q3 to $4.6 billion from $4.2 billion in Q3 fiscal 2024 Diluted earnings per share (EPS) for Q3 improved to $2.92 from $1.43 in Q3 fiscal 2024, and adjusted EPS(1) increased 16% for Q3 to $1.61 from $1.39 in Q3 fiscal 2024.
“We are pleased with our creative success and financial performance in Q3 as we continue to execute across our strategic priorities,” said Robert A. Iger, Chief Executive Officer, The Walt Disney Company. “The company is taking major steps forward in streaming with the upcoming launch of ESPN’s direct-to-consumer service, our just-announced plans with the NFL, and our forthcoming integration of Hulu into Disney+, creating a truly differentiated streaming proposition that harnesses the highest-caliber brands and franchises, general entertainment, family programming, news, and industry-leading sports content. And we have more expansions underway around the world in our parks and experiences than at any other time in our history. With ambitious plans ahead for all our businesses, we’re not done building, and we are excited for Disney’s future.”
At Experiences, Domestic parks and experiences’ operating income of $2.5 billion, an increase of $294 million versus Q3 fiscal 2024. Operating income in the quarter reflects a ~$40 million benefit from timing of the Easter holiday, and a ~$30 million impact from pre-opening expenses at Disney Cruise Line. Domestic Parks & Experiences operating income grew 22% to $1.7 billion.
Operating income at Domestic Parks & Experiences increased compared to the prior-year quarter due to growth at Disney’s domestic parks and resorts and, to a lesser extent, Disney Cruise Line reflecting an increase in guest spending due to higher spending at the company’s theme parks. Higher volumes attributable to increases in passenger cruise days and occupied room nights. Additional passenger cruise days reflected the launch of the Disney Treasure in the first quarter of the current year. Increased costs primarily due to new guest offerings, including the fleet expansion at Disney Cruise Line.
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Theme park admissions revenue growth was due to an increase of 7% from higher average per capita ticket revenue. Higher resorts and vacations revenue was attributable to increases of 7% from additional passenger cruise days and 3% from higher occupied hotel room nights. The increase in passenger cruise days reflected the launch of the Disney Treasure in the first quarter of the current year.
Parks & Experiences merchandise, food and beverage revenue growth was primarily due to increases of 4% from higher average guest spending and 2% from volume growth. Higher merchandise licensing and retail revenue was due to an increase of 3% from merchandise licensing, partially offset by a decrease of 1% from an unfavorable Foreign Exchange Impact. Parks licensing and other revenue growth includes the benefit of a rebate received in the current quarter and an increase in co-branding revenue, partially offset by an unfavorable Foreign Exchange Impact.
Capital expenditures at the Experiences segment are principally for theme park and resort expansion, new attractions, cruise ships, capital improvements and technology. The increase in the current period compared to the prior-year period was due to higher spend on cruise ship fleet expansion.
The Walt Disney Company across all segments expects its fiscal 2025 capital expenditures to be approximately $8 billion compared to fiscal 2024 capital expenditures of $5 billion.
There were no additional details regarding Disney Cruise Line in the press release. We will update this post if we hear anything during the earnings call and Q&A.
For more information and an overall report click over to the Q3-2025 Earnings Report.
Appeared first on: Disneycruiselineblog.com
